This article is from the Australian Property Journal archive
THE NSW Harness Racing Club has made a strategic acquisition, by purchasing the Menangle House – Horse & Jockey Inn site in Sydney’s south-west.
NSW HRC chief executive Bruce Christison said a key condition of the transaction was the surrender of the hotel licence as the club is unable to purchase the site as a hotel.
As a result, the HRC will immediately apply for an alternate licence and begin planning renovations to the existing structures.
The historical Menangle House occupies a site area is 1.446ha and is located on the corner of Menangle Rd and Racecourse Avenue, at the entry to the Tabcorp Park Menangle racetrack.
Club chairman Ray Sharman said this was a key strategic purchase as it will cater for the major residential growth mooted in the area over the short to medium term.
“The state government recently announced the release of land to enable the construction of 35,000 new homes between Campbelltown and Wilton including right in Menangle Park as part of the Greater Macarthur Land Release.
“This historic site is perfectly located to service this new residential development,” Sharman said.
The sale was conducted by Manenti Quinlan & Associates. The price was subject to confidentiality.
Gerry Quinlan said there were over 50 enquiries and 20 inspections.
“Competition for the site came from local land owners, developers and major Western Suburbs hoteliers.
“The sale presented a unique opportunity for all interested stakeholders to compete for this exceptional property in a competitive environment,” Quinlan said.
Australian Property Journal
